Hurdles to the mortgage

It would seem that getting a mortgage has little to do with athletics, and more specifically with hurdles. Nothing could be more wrong. You must prove yourself and overcome obstacles in both disciplines. About what hurdles on the road to credit will meet “mortgage athletes” in the mortgage guide of the Credit House Jenny.

When starting a mortgage loan application, we are like a hurdler. Already at the start we see the finish line, that is the desired own apartment or house. However, the path to the goal requires us to overcome a number of obstacles in the credit process, demonstrate the conditions and not necessarily physical, as in the case of an athlete, but financial, and the result is the most favorable price conditions of the loan.

The most difficult first step

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The first, important hurdle is to verify whether we have the right to stand at the start to buy an apartment, i.e. whether we earn and have a stable and, most importantly, documented source of income. In this case, the form of obtaining income is secondary, because both a full-time employee, an entrepreneur or an employee employed on the basis of a mandate contract or a specific task have a chance for a loan.

However, each form of employment must have a different duration of employment. If you have a full-time job, you can apply for a loan after three months. Employees employed on the so-called junk contracts only after 12 months can go to the bank for a loan. Only a few banks accept a six-month income period. However, in the most difficult situation are entrepreneurs with whom the bank wants to talk about the loan after a minimum of 12 months, and there are those that require a longer duration of business even up to 30 months.

Run fast and show what you can do

The assessment of payment options is probably the most difficult stage in the race for a mortgage. The creditworthiness is influenced by many factors that the bank verifies in the credit process. Financial institutions take into account all financial aspects of a given farm and verify them according to their own procedures and requirements. On the one hand, the borrower’s income is analyzed, and on the other, its liabilities are verified. Depending on the bank, monthly income can also be calculated in different ways.

In the case of athletics

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Our result is always measured in the same way. When calculating net income, however, each bank uses a different method, especially for work or assignment contracts or business operations. By presenting the same documents, our income can be determined differently. Each institution will also count our commitments in a different way. While the installment of the loan repaid so far will most often affect the calculations in the same way, the limits on the account or on credit cards may vary the creditworthiness in each bank. However, the largest differences are noticeable when calculating household maintenance costs. Each of the people living with the borrower reduces their creditworthiness.


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